Economic policies influenced by corporate lobbying from "summary" of The New Industrial State by John Kenneth Galbraith
In the modern industrial system, corporations hold significant power and influence over economic policies through their strategic lobbying efforts. These corporations, equipped with vast resources and networks, are able to shape government decisions in their favor, often at the expense of the public interest. This phenomenon is a direct result of the close relationship between big businesses and the state, where corporate interests take precedence over broader societal welfare. Corporate lobbying plays a crucial role in determining the direction of economic policies, as companies seek to maximize their profits and secure competitive advantages. By leveraging their financial resources and political connections, corporations can sway policymakers to enact legislation that favors their interests, whether it be in the form of tax breaks, subsidies, or deregulation. In essence, corporate lobbying distorts the democratic process by giving undue influence to a select group of powerful entities. This influence extends beyond just shaping specific policies; it also affects the overall direction of economic development. Corporations, driven by the imperative to increase shareholder value, often prioritize short-term profits over long-term sustainabi...
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